Incorporating a Company
There are three key steps to incorporation; reserving your company name, completing the incorporation application, and returning your signed consent forms. The process to incorporation may differ based on the type of company you intend to start.
The following documents are required:
Memorandum of Association
This sets forth the name, registered office, objectives of the company, the type (resident, non-resident, or exempted), the authorized capital and type of shares, names, addresses and signature of the subscribers and the number of shares taken by subscriber, name and signature of witness and the date of execution.
Articles of Association
These regulate the internal operations of the company, such as how meetings are called, powers of directors, and officers.
CIMA approval is required where companies are formed to enter into regulated business (e.g. banking, insurance, etc.). Where the name of the proposed company contains the words “bank” or “insurance” or their derivatives, CIMA approval is required for registration.